How hard does your bank account work for you? Hard enough to give you cashback on your household bills, interest on your balance or simply standout customer service?

Although it is only natural to have reservations over switching from a well-worn account that has seen you through your financial life - possibly since you were a teenager - this is no reason to stay put if you could be getting a better deal elsewhere.

Here we look at some of the best options available to help you to make your money work harder, cut down on fees, or get free stuff.

This is not an exhaustive list of all current accounts around, but as with our Five of the best Cash Isas round-up, we have chosen accounts that we feel stand out for some reason.

Find a more rewarding deal: Some accounts promise cashback, interest and freebies

You will need to credit the account with £1,000 in the first three months to be eligible for the £100 sweetener, and you will need to keep that up each month if you want to avoid the £10 monthly account fee.

This is Money verdict

First Direct boasts many satisfied customers and it will give you money to join and money to leave if you don't like it. However, it doesn't have any branches so if you are the sort of person who likes to do their banking face-to-face, this account may not be for you - although you will be able to use HSBC or Post Office counter services.

Also, if your balance is always firmly in credit, it may be a better option in the longer-term to find an interest-paying current account.

There are a few banks offering in-credit interest which you can read about in our separate incredit interest account guide here.

Some offers come without a time limit or interest on larger balances so which deal is best for you will depend on individual circumstances, but Nationwide is offering the highest available interest rate on a current account.

Best interest rate

Nationwide's FlexDirect account pays out 5 per cent on balances up to £2,500 for the first year - not bad considering most easy-access savings rates have slid in recent years.

Accountholders are also eligible for a 0 per cent overdraft for the first 12 months, and reduced fees of 50p per day for arranged overdrafts after that.

You must pay in a minimum monthly income of £1,000. On the last day of every month Nationwide will calculate the interest you've earned each day and then pay you this interest on the first day of the next month.

Watch out

If your income drops and you can't pay in £1,000, you won't receive any interest that month.

The 5 per cent interest deal ends after a year, when it drops to just 1 per cent. So it may be worth looking elsewhere after the 12 months for a better return on your money.

You get an interest-free arranged overdraft for that 12 months, but after that a flat rate charge of 50p per day applies, this will be costly for those who regularly go overdrawn compared to a typical interest-charging overdraft.

Unarranged overdrafts cost 50p per day for balances under £10 and £5 per day after that, capped at £60 per month.

If you like to carry out your banking face-to-face, this account might not be good for you because you can only access internet or telephone services as a FlexDirect customer.

This is Money verdict

Accounts that are good for both in-credit and overdrawn customers are few and far between so this could be a good bet for those who have smaller balances - but can afford to pay in £1,000 each month.

Existing customers can boost their earnings by recommending Nationwide current accounts to their friends. For every person that switches on your recommendation you will both be rewarded with £100 in your account.

TSB offers both cashback and interest on your balance at the moment, but the cashback perk is only temporary.

You get £5-a-month for maintaining two direct debits and an extra £5 for making 20 debit card payments each month untilJune 2018.

Accountholders earn 3 per cent interest on the first £1,500, worth up to £45.

The account also has the major bonus of only needing a £500 monthly deposit, £1,000 less than the Lloyds Club account.

New customers are limited to one single and one joint account.

Small print

You must maintain two direct debits, register for internet banking, paperless statements and paperless correspondence. The account requires a £500 minimum monthly deposit.

There are some hefty penalties for going overdrawn: Authorised and unauthorised overdrafts are subject to a monthly £6 fee while interest is charged at 19.94 per cent.

There is a free overdraft buffer, if you do stray into negative credit by accident, but this only protects customers from charges if they go overdrawn by £10.

It is possible to apply for a £25 interest and fee-free overdraft excluding the standard £10 buffer, this would allow you to go overdrawn by a slightly more generous £35 before being hit by interest or fees.

Unplanned borrowing comes with additional daily fees on top of the £6 monthly fee. It costs £5-a-day for amounts above the £10 buffer but below £25, anything above £25 incurs a £10-a-day charge.

At the start of November 2016 the interest paid by Santander was halved to 1.5 per cent. Nevertheless, this could still be the best in-credit interest account for those with a large balance.

Interest on savings and cashback on bills

The 123 account will pay an AER of 1.5 per cent on up to 20,000 - earning a maximum yearly income of around £302.

Previously accountholders would have earned up to £604 a year. However the 1.5 per cent rate is still high enough to beat the best easy access savings accounts.

Interest is clocked up on a daily basis and will depend on what you have in your account that day.

It also pays tiered cashback on household bills.

You get 1 per cent back on water, Santander mortgage and council tax payments, 2 per cent on Santander insurance policies and gas and electricity and 3 per cent on mobile and home phone, broadband and TV packages.

Both the interest and cashback you earn is paid directly back into your 123 account on a monthly basis.

Watch out

The £60 annual cost will negate some of the benefits of its cashback and interest payments.

To be eligible for cashback services you must set up a minimum of two direct debits and pay in at least £500 every month.

This account is really not for you if you often find yourself in the red. Arranged overdrafts are charged at £1 a day. Unarranged overdrafts shoot up to £6 a day with no cap on unauthorised borrowing.

Santander says that you will not be charged more than £95 in fees for any one month.

This is Money verdict

In reality the cut to the 123 account interest rate, combined with the monthly fee, means this is no longer the great deal it once was for many.

That said, for those with considerable savings, the 123 current account will remain a good deal despite the fee hike.

If there is any chance of you slipping into your overdraft, there is little point applying for the account as the combined charges and monthly fee are likely to cancel cash benefits.

Santander says the average balance held in the account is £12,500, which equates to £126.25 profit - excluding cashback - even after fees have been taken in to account.

However those with a smaller balance may be best off switching to a free option.

New customers get £125 in M&S vouchers when they sign up plus a £5-a-month gift card top up for the first 12 months.

On top of this you can earn an extra 5 per cent in interest if you make use of the attached regular saver account and deposit the maximum £250 each month.

Fans of M&S can earn extra reward points for swiping their debit card in stores and have access to a simple and generous overdraft when opening the free M&S Bank Current Account.

To get their hands on the giftcard, switchers must move their everyday banking to the account within six months of opening.

Shoppers also earn 1 M&S point per £1 spent in store and online.

500 M&S points are worth £5, so they may take a while to rack up, but can be used to buy most things in store. Points will be converted to vouchers and sent to customers four times a year automatically.

£100 interest-free overdraft

If that wasn't enough, The account also comes with a decent automatic £500 overdraft. It comes with an interest-free buffer of £100.

There are no extra overdraft usage charges and flat rate 15.9 per cent interest applies to both authorised and unauthorised borrowing.

Another major perk for borrowers, the bank does not apply any extra usage fees for spending beyond the agreed limit, bounced payments and paid items unlike most other current accounts.

The extra cherry on top of the M&S account is customer access to a 5 per cent regular savings account deal. This allows you to put away between £25 and £250 a month for 12 months.

Watch out for

Interest beyond the first £100 of your overdraft costs 15.9 per cent, which although lower than most, will still mount up if you do not clear the debt.

When using your debit card abroad there is a non-sterling transaction fee of 2.75 per cent for purchases and withdrawals, however the bank does not apply an additional cash withdrawal fee, saving around 3 per cent compared to most of its competitors.

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